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11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,79,000shares issued and outstanding) $790,000 Paid-in Capital in Excess of
11-8A
On January 1, 2014, Everett Corporation had these stockholders equity accounts.
| Common Stock ($10par value,79,000shares issued and outstanding) | $790,000 |
| Paid-in Capital in Excess of Par Value | 500,900 |
| Retained Earnings | 680,300 |
During the year, the following transactions occurred.
| Jan. 15 | Declared a $0.60cash dividend per share to stockholders of record on January 31, payable February 15. |
| Feb.15 | Paid the dividend declared in January. |
| Apr.15 | Declared a10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $13per share. |
| May15 | Issued the shares for the stock dividend. |
| Dec.1 | Declared a $0.60per share cash dividend to stockholders of record on December 15, payable January 10, 2015. |
| Dec.31 | Determined that net income for the year was $405,600. |
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Computer Accounting
Authors: Donna Kay
15th Edition
0077826841, 9780077826840
